Rebranding strategy In Branding and Marketing

A few weeks ago we pandered on a subject some what similar to this where we spoke about what different logos mean for different brands and what colour pallets are best or rather recommended for which types of businesses.
After years of work to build recognition, why would an established company change its name? Mia Pearson a Marketing expert says companies contemplating a name change to have a “strong and believable story” behind the new brand, demonstrate continuity with the past, ensure the message is consistent across the board, and make sure that all key stakeholders are on board before making it official.